IPVG set to acquire 70% of MEGAMobile

Information technology and gaming conglomerate IPVG Corp. is planning to acquire 70 percent of MEGAMobile Inc., a local mobile phone applications provider, for P6.4 million.

In a disclosure to the Philippine Stock Exchange, IPVG said it has entered into a share purchase agreement with the shareholders of MEGAMobile, subject to due diligence and board approval.

Enrique Gonzalez, chief executive officer of IPVG, said the deal signifies another milestone for the company as it enters the dynamic and highly competitive mobile services arena.

“IPVG’s investment into MEGAMobile marks our entry into the mobile content and value-added services (VAS) sector. This is an extremely exciting space given the Philippines’ 55 million subscriber base and high demand for mobile content. MEGAMobile gives IPVG an existing platform with strong developmental capabilities. This coupled with IPVG’s infrastructure, communities and funding will make us a formidable player in this space. Expect a lot of exciting products as a result of this partnership,” Gonzalez said.

MEGAMobile was formed by mobile interactive and marketing professionals with a combined experience of over two decades in multimedia and digital design production, full life cycle systems and applications development, marketing and business development.

Should it make a go of the proposed transaction, IPVG intends to infuse additional capital into MEGAMobile to strengthen the latter’s content pipeline, marketing programs and infrastructure.

IPVG continues to ramp up its expansion locally and abroad despite recent failed attempts to take over the operations of Nasdaq-traded call center firm PeopleSupport Inc.

The MEGAMobile deal, once completed, will be IPVG’s fifth investment in a span of only a year following the acquisition of Globalstride Holdings Inc.’s call center facilities in the Philippines,IP-Converge Pte. Ltd., Prolexic Technologies Inc. (an Internet security provider with operations in the US and Asia) and Interactive Teleservices Corp. (a US-based contact center with facilities in the US, Panama and the Philippines.

IPVG, through its three subsidiaries, is engaged in the IT and communications business in Southeast Asia.

IT and telecommunications unit IP-Converge provides a wide array of Internet data center service, IP-transport and connectivity solutions, IT consultancy and systems Integration services at international standards.

IP E-Game Ventures Inc., the gaming subsidiary of IPVG, has the exclusive distribution rights to leading multimedia oneline role-playing game RAN Online, as well as O2Jam, Audition, Supreme Destiny and Granado Espada.

Ranked as the number one online games publisher in the Philippines, its minority investors include the Philippine Star Group and E-Store Exchange (an affiliate of GMA Network).

IP Contact Center Outsourcing Inc. (IPPCO), the call center unit of IPVG, provides English voice content, customer support, technical support, telemarketing and other BPO services for foreign clientele.  It has secured an exclusive partnership with Hong Kong-based PCCW Teleservices to jointly establish its contact centers in the Philippines primarily to support English language programs.